Category: Judgments

Destruction of Pan Masala stock on court’s order due to impermissible limits disallowed u/s 37(1) being prohibited by law – ITAT

Destruction of Pan Masala stock on court’s order due to impermissible limits of magnesium carbonate disallowed u/s 37(1) being prohibited by law and not incurred for the purpose of business – ITAT   ABCAUS Case Law Citation: ABCAUS 2124 (2017) (11) ITAT The Challenge/Grievance: The instant appeal was …

Voluntary disclosure in all cases cannot absolve liability of concealment penalty u/s 271(1)(c) – High court

Voluntary disclosure in all cases cannot absolve liability of concealment penalty. High Court confirmed penalty u/s 271(1)(c) for deferral/avoidance of tax. Willful concealment is not an essential ingredient for attracting civil liability as is the case in the matter of prosecution under section 276C – High Court ABCAUS Case …